Legal Opinion
H. Beale Rollins and Mary E. Rollins v. Commissioner of Internal Revenue
Court of Appeals for the Fourth Circuit
Decided March 15, 1960No. 7993PublishedCited by 60 opinions
1Opinion of the Court
SOBELOFF, Chief Judge.
The primary issue here is whether certain losses sustained by the taxpayer are business bad debts, fully deductible from gross income under section 23 (k) (1) of the Internal Revenue Code of 1939, or non-business debts, deductible only as capital losses under section 23 (k) (4), 26 U.S.C.A. § 23(k) (1, 4). 1 The facts are fully reported in the opinion of the Tax Court at 32 T.C. No. 54 and a brief summary suffices for present purposes.
Taxpayer, H. Beale Rollins, who has been engaged since 1925 in the active practice of law and as an independent insurance investigator and…
2Cases cited13 opinions
- Higgins v. CommissionerSupreme Court of the United States · 1941
- Burnet v. ClarkSupreme Court of the United States · 1932
- Dalton v. BowersSupreme Court of the United States · 1932
- Commissioner of Internal Revenue v. SmithCourt of Appeals for the Second Circuit · 1953
- Langdon L. Skarda, Carolyn A. Skarda, Lynell G. Skarda, Kathryn B. Skarda, Cash T. Skarda and Annabel S. Skarda v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1957
8 more not listed; retrieve them via the Exa API.
3Cited by60 opinions
- Millsap v. CommissionerUnited States Tax Court · 1966
- John M. Trent and Lisa M. Trent v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1961
- Demes v. United StatesUnited States Court of Federal Claims · 2002
- Trent v. CommissionerUnited States Tax Court · 1960
- Imel v. CommissionerUnited States Tax Court · 1973
55 more not listed; retrieve them via the Exa API.